Morley and Aviva Capital Management have bought US-based Madison Harbor Capital to strengthen Aviva’s newly restructured multi-manager business.
Aviva Investors, the new global brand merging Aviva’s nine asset management businesses, has bought the New York based firm in a cash deal for an undisclosed amount.
The move is aimed at expanding Aviva Investors’ global capabilities and boosts the multi manager team to 17 located in New York, London and Singapore.
‘This acquisition fits strategically with Aviva's plans to grow its asset management business worldwide, in line with the increasingly global needs of its clients,’ said Ian Womack, Morley’s managing director.
‘Morley is already one of the largest managers of European property assets and a key player in the indirect investment market in both Europe and Asia Pacific.
‘The addition of this team provides us with an excellent entry point to the US market.’
Madison Harbor was founded by former UBS directors Ed Casal and Russ Bates.
Aviva Investors will be officially launched in September after the restructuring was announced in February this year.
It will operate from fifteen locations and have an initial £316bn of assets under management.